Co-Diagnostics Inc has strengthened its intellectual property portfolio after being awarded a patent in the Republic of Korea for the company’s CoPrimer technology.
Developed in 2013, Co-Diagnostics’ solely owned CoPrimer technology received its first patent from the United States Patent Office in 2018, and underpins the company’s molecular diagnostic test products deployed in laboratories and hospitals in over 50 countries and across the US.
Among the numerous molecular diagnostic products using CoPrimer technology to have received regulatory clearance is the Logix Smart COVID-19 Test kit, of which the company has sold millions since the pandemic.
READ: Co-Diagnostics turns 1Q net profit of nearly $8M on strong sales of its Logix Smart COVID-19 Test
In addition, Co-Diagnostics has previously announced that the kit is effective in detecting all known strains and variants of SARS-CoV-2, including the Delta variant. The test was also recently utilized in several international peer-reviewed papers.
“We believe that this patent granted by South Korea provides additional validation of the uniqueness and versatility of the CoPrimer platform,” said Co-Diagnostics CEO Dwight Egan in a statement. ”The vast majority of the millions of tests we have sold in the last year and a half have been to repeat customers, who continue to purchase the test because they have come to depend on the quality and accuracy of this CoPrimer-based assay.”
Egan said that the company’s business model of selling tests to US CLIA labs and their international equivalents continues to drive strong sales.
Its COVID-19 test kit has been authorized for use as an in vitro diagnostic (IVD) by regulatory authorities in the US, the European Community, Mexico, India, Australia, and others. And the CoPrimer technology is also used in the products manufactured and marketed by CoSara Diagnostics, its joint venture in India.
Egan added: “In addition to the Company’s development of its at-home and point-of-care Eikon platform for infectious disease diagnostics, this technology also serves as the foundation for Co-Diagnostics’ other verticals, including our growing mosquito abatement/vector control vertical, AgBio, liquid biopsy technology, and next-gen sequencing applications, and we are pleased that this new patent provides us with even more thorough and robust protection for our most important intellectual property.”
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Story by ProactiveInvestors
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